It seems Scaled Composites are not only looking at the x-prize, but one of their other planes is also going to make a new record:

Richard Branson and Steve Fossett have announced the launch of the first solo-piloted aircraft to fly non-stop round the world without refuelling.
The aircraft, code named Model 311, is being built in the US Mojave Desert by Scaled Composites. It will be made entirely from advanced materials and will be ultra light.

A plane called Voyager, which carried two pilots, completed the challenge for the first time in 1986.

GlobalFlyer, which is due to take off next year, is designed by Burt Rutan, who also created Voyager.

I often wonder if carbon nanotube composites might factor big into making spacecraft. Being only 1/6 the weight of steel and possibly 200x stronger (not sure if that's compressive wise) I'm thinking a composite material made of cnt might make it easy to build an SSTO.

I often wonder if carbon nanotube composites might factor big into making spacecraft. Being only 1/6 the weight of steel and possibly 200x stronger (not sure if that's compressive wise) I'm thinking a composite material made of cnt might make it easy to build an SSTO.

it would absolutely be an interesting material for many applications but largescale manufacturing of cnt (enough for building spaceships) is nowhere close yet afaik

[.. largescale manufacturing of cnt (enough for building spaceships) is nowhere close yet afaik

True, but if things like the X Prize spur the commercial use of space along (and they WILL), the market will then exist and companies will find ways to economically supply carbon composites and the other building blocks for affordable spacecraft. You see it happen in microcosm in every new industry... once government gets out of it and the free market economy cuts in.